Real Estate Math
A Michigan property is listed at $250,000. The seller agrees to pay a 6% commission. What is the total commission?
A$12,500
B$15,000✓ Correct
C$16,000
D$25,000
Explanation
Commission = Sale Price x Rate. $250,000 x 0.06 = $15,000. To solve this, multiply the relevant values: $250,000 at 6%.. The correct answer is $15,000.. This is a common calculation on the Michigan real estate exam.
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